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The Latest Breaking News from Signature Bank

Paris (AFP) - After three US regional lenders collapsed and UBS swooped to buyout troubled Credit Suisse to avoid a wider crisis, AFP looks back at the last two weeks of banking turbulence:

AFP

US banks on bumpy path as First Republic’s troubles persist

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

Tribune News Service

Failed Signature Bank Finds a Buyer

The 40 branches of Signature Bank were acquired by a subsidiary of New York Community Bancorp on March 19.

The Street

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First Republic Stock Plummets On S&P Downgrade, Possible JPMorgan-Lead Capital Raise

Reports of a possible share sale, and a second ratings downgrade deeper into 'junk' status, has First Republic trading firmly lower Monday.

The Street

Stocks Mixed, Fed Meeting, Credit Suisse-UBS Deal, First Republic Downgrade, Signature Bank Sale - 5 Things To Know

Stock futures slip lower as banking crisis spreads; Week Ahead: Fed meeting in focus as rate bets mixed; UBS buys credit Suisse for $3.3 billion, gets massive government support; First Republic shares slump after second S&P downgrade and New York Community Bancorp cuts deal to buy Signature Bank.

The Street

AP News Digest 3:30 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

The Independent UK

New York Community Bank agrees to buy a large portion of Signature Bank

The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries.

WEKU

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US sees bank deposits stabilise even as some regional banks reel

Deposits in the country’s banking system are stabilising, Reuters reported citing unnamed US official.

Al Jazeera

Asian stocks sink after Credit Suisse takeover

Asian stock markets are lower after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate hikes

The Independent UK

US regulator sells failed Signature Bank assets to another lender

San Francisco (AFP) - The US banking regulator has struck a deal to sell most of the assets of the failed Signature Bank to another institution, the agency said on Sunday.

AFP

New York Community Bank to buy large part of failed Signature Bank, US agency says

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday.

France 24

New York Community Bank to buy failed Signature Bank

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday

The Independent UK

New York Community Bancorp to take over failed Signature Bank

Signature was one of 2 bank failures that threatened to kick off a broader crisis of confidence in the U.S. banking system

Axios

Warren says she favors increasing FDIC’s deposit insurance cap

WASHINGTON — Sen. Elizabeth Warren is calling for more U.S. deposits to be covered by federal insurance and demanding government probes into whether lax regulation fueled this month’s collapse of Silicon Valley Bank and Signature Bank.

Tribune News Service

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The Street

First Citizens Could Be Suitor for Silicon Valley Bank

Bids for Silicon Valley Bank, which was closed by the FDIC on March 10, are being received for the collapsed California bank.

The Street

Bank of America Could Acquire Signature Bank, Ackman Says

Signature Bank was closed by regulators on March 12, the third bank to fail in March.

The Street

SVB Collapse: How Bank Failures Impact Your Money

Consumers are concerned if their money is safe after three banks have failed recently.

The Independent UK

Bank failures: Anger in Congress, but division on what to do

Congress is trying to figure out how best to respond to the abrupt failure of two U.S. banks

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Asharq Al-Awsat

Credit Suisse Meets to Weigh Options, under Pressure to Merge with UBS

Credit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank as regulators urged it to pursue a deal with Swiss rival UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess…

Bangkok Post

Regional banks safe from US contagion

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

The Conversation

The collapse of major US banks leads to bills calling for more regulation

When Silicon Valley and Signature banks failed in early March 2023, government regulators rushed in to guarantee deposits and protect bank customers. Under current banking regulations, though, there was no obligation for the government to step in.

AFP

Yellen says US banking system sound despite turmoil

Washington (AFP) - The US banking system remains sound despite market anxiety over the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, Treasury Secretary Janet Yellen told members of Congress on Thursday.

Tribune News Service

Biden seeks FDIC authority to claw back bankers’ compensation

WASHINGTON — President Joe Biden on Friday urged Congress to pass legislation that would give the Federal Deposit Insurance Corporation authority to “claw back” executive pay at failed banks and to bar the executives from jobs in the banking industry.

The Guardian - UK

Credit Suisse shares continue to fall despite efforts to calm nerves

Lifelines handed to Swiss bank and US regional bank First Republic fail to ease investor concerns

Investors Business Daily

Stock Market Diverges Amid Bank Woes, Growth Gains; First Republic, Credit Suisse, Meta In Focus: Weekly Review

A market rally is underway, led by the Nasdaq, but First Republic and Credit Suisse led bank stocks lower despite rescue efforts.

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